Bitcoin Thieves Sentenced to Prison for Massive Heist

James Zhong, the hacker responsible for the Silk Road marketplace breach, has been sentenced to a year in prison for wire fraud charges. Zhong stole over 50,000 Bitcoin from Silk Road by creating multiple accounts and misleading Silk Road into releasing Bitcoin into his accounts. Authorities searched Zhong's home in Georgia and recovered over 50,000 Bitcoin, gold and silver bars, and more than $660,000 in cash. When the Bitcoin was seized, it was valued at $3.4 billion. Today, it is worth more than $1.5 billion.